Note 9 - Borrowings

12 Months Ended

Dec. 31, 2018

Notes to Financial Statements

Federal Home Loan Bank, Advances [Text Block]

NOTE

9

– BORROWINGS

The Bank has established a borrowing line with the FHLB of Dallas. As of

December 31, 2018

and

2017,

the Bank had outstanding advances totaling

$67.0

million and

$45.0

million, respectively, carrying interest rates from

1.32%

to

3.03%

at

December 31, 2018

and

0.90%

to

1.46%

at

December 31, 2017.

As of

December 31, 2018,

the Bank had unused credit available under the FHLB blanket pledge agreement of

$82.4

million. The following are maturities of outstanding FHLB advances at

December 31, 2018

and

2017:

	At December 31,
Maturity	2018		2017
Year one	$	27,000,000	$	35,000,000
Year two		40,000,000		-
Year three		-		10,000,000
Year four		-		-
Total borrowings	$	67,000,000	$	45,000,000

The Bank has

two

lines of credit available with other financial institutions of

$

6.0

and

$

9.8

million, respectively, with

no

outstanding balances at

December 31, 2018

and

2017.